Malta's Financial Services Authority (MFSA) is calling out Arb Signals LTD, which describes itself as a cryptocurrency arbitrage trading platform, for claiming to be registered in Malta.
- Arb Signals, otherwise known as Arbitly, "is NOT a Maltese registered Company NOR licensed" to handle crypto in Malta, MFSA said Thursday.
- Arbitly's website describes a platform that does away with other crypto exchange's "remarkable market problems."
- It also claims the business is registered at a "beautiful office in central Malta." Maltese authorities say otherwise.
- Arbitly did not immediately respond to CoinDesk requests for comment.
- MFSA routinely flags bogus claims by crypto brokers.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.